{"id":106212,"date":"2023-08-04T14:32:06","date_gmt":"2023-08-04T09:02:06","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=106212"},"modified":"2023-08-04T14:32:07","modified_gmt":"2023-08-04T09:02:07","slug":"sbi-q1-results-profit-doubles-to-rs-16884","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/sbi-q1-results-profit-doubles-to-rs-16884\/","title":{"rendered":"SBI Q1 Results: Profit Doubles to Rs. 16,884\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-385662365\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>State Bank of India (SBI), a Fortune 500 firm, is a Mumbai-based statutory institution for public sector banking and financial services in India. SBI has a long history dating back more than 200 years, making it the bank that Indians have had the most faith in.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-868142113\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>SBI, the largest Indian bank with a quarter of the market, serves over 48 crore customers through a sizable network of over 22,405 branches, 65,627 ATMs\/ADWMs, and 76,089 BC outlets.<\/p><p>The country&#8217;s biggest bank SBI on Friday posted over a two-fold jump in standalone net profit at Rs 16,884 crore for the first quarter of the current financial year, helped by a decline in bad loans and an improvement in interest income.<\/p><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/SBIN\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">State Bank of India<\/a><\/strong> (SBI) had reported a net profit of Rs 6,068 crore in the April-June quarter of 2022-23.<\/p><div class=\"trade-content_5\" id=\"trade-315060666\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The bank&#8217;s total income increased to Rs 1,08,039 crore in the first quarter of 2023-24, as against Rs 74,989 crore in the same period a year ago, as per the regulatory filing.<\/p><p>During the quarter, the bank earned interest income of Rs 95,975 crore, as against Rs 72,676 crore in the same period a year ago.<\/p><p>The bank&#8217;s gross non-performing assets (NPA) of the total advances fell to 2.76 per cent at June-end from 3.91 per cent a year ago.<\/p><p>Similarly, net NPAs also eased to 0.71 per cent in June 2023, as against 1 per cent a year ago.<\/p><p>On a consolidated basis, SBI&#8217;s net profit also rose over two-fold to Rs 18,537 crore, as against Rs 7,325 crore in the same quarter a year ago.<\/p><p>The total income increased to Rs 1,32,333 crore in the quarter under review, as compared to Rs 94,524 crore in the first quarter of the previous fiscal.<\/p><div class=\"trade-content-10\" id=\"trade-977171093\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>During the quarter, the bank infused Rs 489.67 crore in its non-life insurance venture SBI General Insurance, it said, adding Rs 82.16 crore was infused in eight Regional Rural Banks (RRBs).<\/p><div class=\"trade-after-content\" id=\"trade-29440267\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>State Bank of India (SBI), a Fortune 500 firm, is a Mumbai-based statutory institution for public sector banking and financial services in India. SBI has a long history dating back more than 200 years, making it the bank that Indians have had the most faith in. SBI, the largest Indian bank with a quarter of [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31],"tags":[],"class_list":["post-106212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-results","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SBI Q1 Results: Profit Doubles to Rs. 16,884\u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"State Bank of India (SBI), a Fortune 500 firm, is a Mumbai-based statutory institution for public sector banking and financial services in India. 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